"Lowering Actor Fees"... Management Agencies Respond to Mid-Budget Film Support
Agreement Signed on the 16th with the Ministry of Culture, Sports and Tourism and the Korean Film Council
Actors Voluntarily Join Industry as Government Expands Support to 46 Billion Won
Top-tier management agencies in South Korea have agreed to cooperate in capping actor fees for government-supported mid-budget films at less than 10% of the net production cost.
Minister of Culture, Sports and Tourism Choi Hwi-young is speaking at the first public-private consultative meeting to improve the distribution structure of Korean films held on May 29 at 'Scene One,' the Planning and Development Support Center of the Korean Film Council in Jung-gu, Seoul. Photo by Yonhap News
View original imageThe Ministry of Culture, Sports and Tourism and the Korean Film Council will sign a "government-production company-management agency agreement to revitalize Korean film production" on the 16th at the Seoul branch of the National Museum of Modern and Contemporary Art, together with BH Entertainment, Management SOOP, J Wide Company, and other agencies.
This measure applies exclusively to projects supported by the Korean Film Council's "Mid-Budget Film Production Support" program. The agreement is a non-binding moral commitment, lacking legal force. Representatives from the Korea Movie Makers Association and the Producers Guild of Korea (PGK) will also attend and sign. In addition, a private-led consultative body comprising management agencies, production companies, and investment/distribution firms will be formed to ensure the agreement is not a one-off action and to continuously discuss ways to improve the production environment.
The government launched the "Mid-Budget Film Production Support" program last year with a total budget of 10 billion won, and this year, it has increased support more than fourfold to 46 billion won. This agreement is regarded as a case of public-private cooperation, with the actor and management sectors voluntarily responding to these government support measures.
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Minister of Culture, Sports and Tourism Choi Huieong expressed gratitude for the participation of actors and management agencies, stating, "We will spare no policy support to help Korean cinema rebound, ensuring that government financial assistance and the mutual commitment of industry professionals create a synergistic effect."
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